| IV o |
o '5 |
ti | 'o | o III E |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| II SI 0 Z |
0 v u Ill |
o o | o ci D |
8 IL' |
'o o g |
4m o L IU |
Total 2020 - 2021 |
Total 2019 - 20 |
|||||
| Income and Endowments | from: | ||||||||||||
| Donations and legacies |
1,651 | 1,651 | 9,682 | ||||||||||
| Charitable activities |
|||||||||||||
| Assessments to churches |
4 | 414,632 | 414,632 | 434,558 | |||||||||
| Other | 256 | ||||||||||||
| Other trading activities | |||||||||||||
| - Lettings | |||||||||||||
| - Hub Cafd | 12,216 | ||||||||||||
| Investments | 16,334 | 410 | 16,747 | 24,431 | |||||||||
| Other - CPF levy refund | 93,685 | ||||||||||||
| Other - Profit on sale ofproperty | |||||||||||||
| Total | 430,966 | 410 | 1,654 | 433,030 | 574,828 | ||||||||
| Expenditure on: |
|||||||||||||
| Stipends, NIC &Pension costs |
12 | 209,711 | 209,711 | 240,194 | |||||||||
| Lay salaries, NIC 8 Pension |
costs | 12 | 16,843 | 16,843 | 23,908 | ||||||||
| District Assessment | 14,872 | 14,872 | 14,328 | ||||||||||
| Methodist Church Fund |
63,360 | 718 | 64,078 | 62,742 | |||||||||
| Telephone &travel |
13,287 | 13,287 | 16,976 | ||||||||||
| insurance, utilities, etc |
26,284 | 26,284 | 21,866 | ||||||||||
| Maintenance on manses |
24,605 | 24,605 | 12,705 | ||||||||||
| Ex enditure on other Circuit pro |
erty | 5,466 | 5,466 | 7,570 | |||||||||
| Depreciation | |||||||||||||
| Provisions | 15,000 | ||||||||||||
| Other Expenditure | 12,551 | 1,000 | 13,551 | 19,346 | |||||||||
| Grants and Donations |
13 | 1,250 | 1,000 | 5,436 | 7,686 | 9,752 | |||||||
| Hub Cafd | 219 | 219 | 12,227 | ||||||||||
| Contributions to District Advance |
Fund | 12,327 | |||||||||||
| Total | 388,448 | 1,718 | 6,436 | 396,602 | 468,941 | ||||||||
| Net Income/(expenditure) | 42,518 | (1,308) | (4,782) | 36,428 | 105,887 | ||||||||
| Transfers between funds |
13,738 | (13,738) | |||||||||||
| 56,256 | (15,046) | (4,782) | 36,428 | 105,887 | |||||||||
| Other recognised gains / (losses): |
|||||||||||||
| Gains Losses on reva uation |
o | xe | |||||||||||
| Gains/(Losses) on investment |
assets | 3,836 | 3,836 | (375) | |||||||||
| Actuarial gains /(losses) on |
defined | benefit | |||||||||||
| pension schemes | |||||||||||||
| Net movement in funds |
56,256 | (11,210) | (4,782) | 40,264 | 105,512 | ||||||||
| Reconciliation offunds: |
|||||||||||||
| Total funds brought forward |
2,411,584 | 115,294 | 6,886 | 2,533,764 | 2,428,252 | ||||||||
| Total funds carried forward | 2,467,840 | 104,084 | 2,104 | 2474,028 | 2,533,764 |
| Unrestricted | Circuit Model | Restricted | Endowment | Total | Tntal | ||||
|---|---|---|---|---|---|---|---|---|---|
| Trust Fund | Funds | 2020-2021 | 2019-2020 | ||||||
| (Unrestricted) | |||||||||
| 6 | |||||||||
| Tangible Fixed Assets | |||||||||
| Notes | |||||||||
| Land &Buildings | 14 | 1,890,657 | 1,890,657 | 1,890,657 | |||||
| Ertuipment | |||||||||
| Investment properties investments |
14 15 |
350,190 | 24,737 | 350,190 24,737 |
35D,190 20,901 |
||||
| Totol7)xed assets | 2,240,847 | 24,737 | 2,265,584 | 2,261,748 | |||||
| Current Assets | |||||||||
| Debtors and Prepayments | 21,985 | 21,985 | 18,532 | ||||||
| Loans by the Grcult | 17 | 71,876 | 71,876 | 86,555 | |||||
| Trustees for Methodist | Church | ||||||||
| Purposes deposits | 7,471 | 7,471 | 7,838 | ||||||
| Central Finance Board Deposits | 249,900 | 2,104 | 252,004 | 196,069 | |||||
| Cash at Bank and in hand | 14,070 | 14,070 | 17,161 | ||||||
| Torol current assets | 285,955 | 79,347 | 2,104 | 367,406 | 326,155 | ||||
| Creditors and Accruals (due in under | |||||||||
| 1yr) | 18 | 58,962 | 58,962 | 54,139 | |||||
| Net current assets (gabgitles) | 226,993 | 79,347 | 2,104 | 308,444 | 272,016 | ||||
| Total assets less current Noblllties | 2,467,840 | 1D4,D84 | 2,104 | 2,574,028 | 2,533,764 | ||||
| Loans and creditors | due after 1year | ||||||||
| Provisions for Babigties and charges | |||||||||
| Net assets | 2,467,840 | 104,084 | 2,104 | 2,574,028 | 2,533,764 | ||||
| Funds ofthe Circuit | |||||||||
| Unrestricted funds |
19 | 2,467,840 | 2,467,840 | 2,411,584 | |||||
| Circuit Model Trust | Fund | ||||||||
| (Unrestrictedl | 19 | 104,084 | 115,294 | ||||||
| Restricted funds | 19 | 2,104 | 2,104 | 6,886 | |||||
| Endowment funds |
|||||||||
| TotolFunds | 2,467,840 | 104,084 | 2,104 | 2,574,028 | 2,533,764 |
| s to | the Ac«or«its | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | Balls ofaccounting | |||||||
| The financial statements have been prepared under the Char itws Act 2011in accordance with the 2019version of Accounting |
and | |||||||
| Reporting by charitws statement of Recommended practke (soRp) applicable to charities |
preparing their ac«ounts in accordance |
|||||||
| wnh FR3102-the charities sORp (FRS102)and taking note ofthe Update Bugetln 2 issued in 2018. |
||||||||
| 2 | Funds | |||||||
| The funds held constitute: General Funds held for any purpose ofthe Circurt which are Unrestricted. The Circuit Model Trust |
Fund has | |||||||
| wide purposes degned in Standing Orders and is categorised as unrestricted. Restncted funds |
which are held for a narrower | purpose | ||||||
| There are no Endowment funds. Oetags ofeach material fund are disdosed in the note 19to these accounts. Any fund may |
be | |||||||
| represented by more than just cash. |
||||||||
| 3 | Accounting polkles |
|||||||
| Basis | ||||||||
| These accounts have been prepared on the basis ofhtstorbat cost except that investments are |
shown at their market value | atthe | end of | |||||
| the year and mansm and investment propertim are held at their value at 31August 2018.The |
accruals bas | s has been used | to show a | |||||
| true and fair view o(the Circuit's financial position and actlvltle». |
||||||||
| Income Recognltlon | ||||||||
| Income Isincluded in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the |
resources, and Ihe trustees | |||||||
| are reasonably certain they wig receive the resources; and the monetary value can be measured with su(0«lent regabikty, |
||||||||
| Resourcm Expended | ||||||||
| This is recognised when a Babgity b incurred, or a constructive obggation arises, that results in |
the payment | being unavoidable. | Uabgides | |||||
| are recognised a» soon as an outgow ofeconomic benefit is considered more Bkely than not under the legal orconstructive |
obligation | |||||||
| commxdng the circuit to pay out resour«es. |
||||||||
| Grairts | ||||||||
| Grants made by the Circuit from its own funds are recognded In full at the time ofagreement |
orwhen the Cbcutt accepts that there ls a | |||||||
| legal oroperational oblmation to make the payment. |
||||||||
| VAT | ||||||||
| sin«e the Orcut is not vAT regutered, ag input vAT b charged with the expenses to which it refers. |
||||||||
| Tangible fixed a»ets for use by the Eh«nit | ||||||||
| tangible lbed assets are capltalhed if they can be used for more than one year, and indivlduagy |
cost at least ES00. | |||||||
| The freehold properties are shown in the a«counts at the 31August 2018market value, ofwhkh the land |
component is deemed |
to be | ||||||
| 1224083. No depreciation is provkled on the bugdings became the trustees consider the current residual |
fair value ofthe marie | |||||||
| buildings (on the assumption that it had not reached the end of it» useful economk Irfe by the |
year end) to | be not less than | Its | current | ||||
| value. Any depreciation would not be material. The properties have been reviewed for impairment. |
||||||||
| Iiivestilient Propertkis |
||||||||
| Investment properties - no property is currently deemed to not be held for the long term purposes ofthe «harlty. Investment |
property | is | ||||||
| valued on the same basis as non investment properties. |
||||||||
| Investments | ||||||||
| Investments are valued in the balance sheet at market value at the year end. Investment income is induded |
in the ac«aunts | when | ||||||
| receivable and eny gains or losses on revaluatxm at the year end are shown in the SOFA. |
||||||||
| Connexlonal Property Fund levies |
||||||||
| The levy taken by the Methodist Connection on the sale ofproperiy is accounted for as an expense on the basis that the return |
ofthb | |||||||
| levy tothe Or«uk is conditional an making an eligible purchme ofproperty within the required |
time period | and this can not | be | judged as | ||||
| significantly likely ifnot made in the same flnandal year. |
| 2011 | 1020 | |||
|---|---|---|---|---|
| Total | Total | |||
| Unlverdty | of Leicester Chapkfncy | 1,250 | 1,250 | |
| Clrcull Model Trust Fund | ||||
| Rothley Methodist Church |
2.697 | |||
| Upp ngham | Road Methodist | Church | ||
| Restrkted | ||||
| Rothley Methodut Chwch |
359 | |||
| U n ham Road Methodist |
Church | 5,436 | 2,060 | |
| Ma ower |
Methodt5t Church |
|||
| 7,666 | 9,752 |